Stocks to Watch Today, Wednesday, October 28, 2026: Jio Platforms, Reliance Industries, Maruti Suzuki India, Larsen & Toubro, Bajaj Auto

New Delhi, Oct 28: Here are five stocks in focus on Wednesday, from the Dalal Street debut of Jio Platforms to Reliance Industries’ decision on raising NCD fund to 26 per cent profit fall for Maruti Suzuki India to 33 per cent profit jump for Larsen & Toubro to 35 per cent profit rise for Bajaj Auto. Here are some key points to note from today’s session.

Jio Platforms 

Jio Platforms is set to make its debut on Dalal Street on Wednesday after raising Rs 30,213 crore through its initial public offering (IPO), the largest public issue in India’s market history. The shares will list on the BSE and NSE at 10 am, after a special pre-open session. The issue was entirely a fresh issue of 27 crore shares in a price band of Rs 1,065 to Rs 1,119, and it was subscribed 22.19 times. Of the proceeds, up to Rs 27,500 crore will be used to prepay or repay borrowings of its subsidiary, Reliance Jio Infocomm. 

Reliance Industries (RELIANCE) 

Reliance Industries shares will be in focus as Jio Platforms makes its debut on the BSE and NSE. The company has also announced that its board will meet on October 30 to consider its September-quarter financial results and a proposal to raise funds through non-convertible debentures (NCDs). 

Reliance is expected to hold about 66.4 per cent of Jio Platforms after the listing, and brokerages see the debut as a way to unlock value and narrow the holding company discount. A global brokerage has estimated that the stake is worth Rs 481 to Rs 506 per Reliance share. Investors will wait for the results and the size of the NCD plan. 

Maruti Suzuki India (MARUTI) 

Maruti Suzuki India posted a 26 per cent year-on-year decline in consolidated net profit to Rs 2,466 crore for the July-September quarter of FY27, against Rs 3,349 crore a year earlier, despite higher revenue. Revenue from operations rose 26 per cent to Rs 53,356 crore, and the company sold a record 6,96,654 vehicles in the quarter. 

The automaker blamed higher commodity costs linked to the West Asia conflict. Operating profit (EBIT) fell 17.1 per cent to Rs 2,803.7 crore, while its domestic market share rose to 40.8 per cent. The stock closed 2.28 per cent higher at Rs 11,454.85 on Tuesday, before the results. Investors will track margins. 

Larsen & Toubro (LT) 

L&T reported a 33 per cent year-on-year (YoY) increase in consolidated profit after tax (PAT) to Rs 5,202 crore for the quarter ended September 30, 2026, compared with Rs 3,926 crore in the corresponding quarter of the previous fiscal. Revenue grew 16 per cent to Rs 78,750 crore. 

Quarterly order inflow rose 28 per cent to a record Rs 1.48 lakh crore, with international orders making up 63 per cent of it. The order book stands at a record Rs 8.5 lakh crore. EBITDA rose only 1 per cent to Rs 6,845 crore, so operating margins remain under pressure. Investors will look for margin recovery. 

Bajaj Auto (BAJAJ-AUTO) 

Bajaj Auto posted a 35 per cent YoY rise in profit after tax to Rs 3,354 crore for the September quarter, from Rs 2,480 crore a year earlier. Robust demand in domestic and export markets helped the two-wheeler manufacturer achieve its highest-ever quarterly revenue of Rs 20,003 crore, up 34 per cent. 

EBITDA rose 37 per cent to Rs 4,172 crore, with the margin up 40 basis points to 20.9 per cent. The company sold 1.55 million vehicles, up 20 per cent, and electric models made up about one-third of domestic sales revenue. Free cash flow was about Rs 4,000 crore. Revenue and profit both beat Street estimates. 

Source

• Company exchange filings
• Business Today
• Zee Business
• Forbes India